| The Changing Landscape of
Computerized Accounting Systems
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By Susan A. Honig
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Increasingly affordable hardware, coupled
with the new capabilities of e-commerce, e-business, and
enterprise resource planning, has created a new generation of
affordable solutions that were once out of reach for most
businesses. The author reviews the the latest developments and
trends in computerized accounting, with an eye to the future. Article
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| Materiality Decisions in the
Computer Age
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By Lee J. Seidler
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It is not uncommon for auditors to find
misstatements that are not recorded because the errors are
deemed not material. Yet, definitions of materiality vary widely
and are often based upon arbitrary assumptions. Because of the
minimal effort required to correct errors in financial statements in
the computer age, there is need for a new, realistic approach toward
making materiality decisions. Article
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| Taxpayers Win in Valuing Stock of
Closely Held Companies
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By Stanley E. Bulua
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In the past, the IRS has refused to allow a
valuation discount for corporate taxes payable upon liquidation of a
closely held company--even though the tax is practically
unavoidable. Two recent court cases challenged the IRS's
position--and won. Article
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| The Hubert
Donnybrook
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By Abraham J. Briloff and Lenore A. Briloff
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The Supreme Court's 1997 decision in
Hubert has been widely discussed and dissected for its
impact on estate planning. the authors weigh in with a fresh
perspective on the Court's logic, a pointed opinion on subsequent
commentary, and a mirabile dictu on the resulting regulations. Article
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| In Search of Concepts on Auditor
Independence
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| By Douglas
R.Carmichael
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The author defends the historical definition
of independence by reasserting the importance of appearance of
independence in auditor relationships. He also moves the concept of
independence from the individual engagement to the professsion-wide
level. Article
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| In
Quotes: Auditor Independence:
The Issues
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By Richard H. Walker
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This is the full text of the SEC director of
enforcement's speech as delivered at the December 1998 CPA
Journal symposium on auditor independence. Walker identifies
the issues pertinent to a debate on the role and definition of
auditor independence. Article
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